Monday, December 13, 2010

Price drops galore all over

December 2010 Regional trends

Latest RM data still looks unreported on the BBC web site. Funny that. When asking prices were rising, they could'nt plaster it up quick enough, spliced with the odd cheers leader from a London chain of EAs.

Posted by doomwatch @ 01:27 PM (1510 views)
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5 thoughts on “Price drops galore all over

  • sibley's b'stard child says:

    Lovely Doomwatch; the panic is evidently contagious. A pandemic I like to think…

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  • The EAs can’t find a suitable soundbite to regurgitate……some positive spin about rents going up and BTL spivs hoovering up unsold pwoperdy is under construction as we speak.

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  • I think you’ll find the BBC don’t report on Rightmove asking price data no matter which direction it takes.

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  • Its because of the weather!

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  • ‘RM Key points:
    December sellers cut asking prices by 3% (£6,969) – falls now recorded in 5 of the last 6 months
    Rightmove forecasts that in 2011 sellers will continue to drop their asking prices with the national average falling by up to 5%, with north/south extremes
    Upsides of pent-up demand and fewer marketed properties more than off-set by downside risks of unemployment, increased forced sales, base rate rise and the ongoing mortgage famine
    2011 a good year for: Landlords, job secure equity blessed trader uppers and deposit-rich. 2011 a bad year for: Forced sellers, deposit and equity poor, tenants and first-time buyers’

    3.2% down in Nov, and 3.0% down in Dec’. Annualised based on last 2 months = Approx’ 36% drop. Now that sounds about right not the pithling -5% they’re praying for.

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